SMFL MIRAI PARTNERS (Singapore) PTE. LTD. and Kenedix, Inc. entered into agreement to acquire Aravest Pte. Ltd. from ARA Asset Management Limited for $267.4 Million on March 11, 2024.

As part of the transaction, the remaining ARA branded vehicles within the Group will be rebranded to ESR. The transaction is subject to regulatory and other conditions and is expected to be completed by 3Q 2024.